Milton Friedman was one of the world-s foremost economists. He was originally a believer in government intervention in economics but then believed that a hands-off policy is best. According to Wikipedia on-line encyclopedia Friedman-s political philosophy -- considered classically liberal and libertarian -- stressed the advantages of the marketplace and the disadvantages of government intervention and regulation. From Chicago School of Economics. A two and a half minute clip on the Phil Donahue show probably from the 1970s. A very cogent discussion by a very engaging Milton Freedman.